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About This Home
This 3-bedroom, 1-bathroom single family at 7169 Holmes Street in Detroit, MI is listed for $45,000 ($44 per sqft). Built in 1923, the home offers 1,026 sqft of living space on a 0.07 acres lot.
This 3-bed, 1-bath property, located in Claytown, is government-owned and included in the Detroit Land Bank Authority (DLBA) program. The DLBA recommends reviewing relevant Neighborhood Framework Plans from the City of Detroit's Planning and Development Department for additional context about the neighborhood.
How to Apply: Interested buyers must submit a proposal that includes: 1. Project Proposal (intended use of structure + timeline) 2. Proof of Funds (bank statement or lender letter) 3. Scope of Work (breakdown of renovation costs) 4. Proof of Previous Projects: (include addresses and photos) Important Note: Sale is contingent on execution of a DLBA Renovation/Development Agreement.
The Detroit Land Bank Authority is entitled to a tax recapture for the five (5) tax years following transfer of ownership. This may be incompatible with certain abatements or lot combinations. Waiver requests will be considered on a case-by-case basis and may require a payment in lieu of taxes, determined after review of the development pro forma and financing.
Key Features
- Built in 1923
- 0.07 acre lot
Property Details
Monthly Cost Estimate
$241/mo
20% down · 6.5% · 30 years
Estimates only. Actual payments may vary.
Location
7169 Holmes Street
Detroit, MI 48210
William L Holmes & Frank A Vernors Sub
Property Details
Construction
Heating
Questions & Answers
This 3-bedroom, 1-bathroom single family at 7169 Holmes Street is listed at $45,000 ($44/sqft). The estimated monthly payment is $195 based on 20% down at 6.5% interest.
Key features include: Built in 1923, 0.07 acre lot.
This property is listed by Erick Monzo and can be reached at (586) 541-4000 or erick@monzogroup.com.
